Archive for the ‘Cubic Energy Inc. QBC’ Category

RedChip Featured Company: Cubic Energy, Inc. (QBC)

Friday, October 3rd, 2008

Cubic Energy, Inc. (QBC) is an independent energy company focused on the exploration, development, and production of natural gas and crude oil. As its name suggests, the company takes a multi-dimensional focus on the integration of engineering, financial management and earth sciences in its oil and gas exploration efforts. Cubic plans to pursue low-risk opportunities while building high-yield reserves.

The company received landmark news at the end of July 2008 that it had received approval to be listed on the American Stock Exchange (AMEX). Cubic’s common stock began trading under the symbol “QBC” on August 4th. The shares had previously been traded under QBIK on the OTCBB. President and CEO of Cubic, Calvin Wallen said, “This is an incredible milestone for Cubic and its shareholders. With the ability to list on AMEX, Cubic is able to reach both United States and Global investors.”

During the fall of 2008, Cubic announced that its Red Oak Timber 5 No. 1 spud, located at the company’s southern portion of its Bethany Longstreet property, had completed drilling to 11,950 feet. The site then commenced horizontal drilling in the Haynesville Shale level. Cubic holds a 35% working interest in this particular well, while it maintains a 49% working interest at three other Haynesville Shale wells on the northern portion of the Johnson Branch.

Tremendous progress is being made at the Cotton Valley well sites. Cubic should see a steady revenue stream once it transitions its more advanced sites into full-production locations.

Let us hear your thoughts: Cubic Energy, Inc. Message Board

Cubic Energy, Inc. (QBIK.OB) To Be Listed on AMEX as “QBC”

Thursday, July 31st, 2008

Cubic Energy, Inc. (QBIK.OB), an independent oil and natural gas exploration and production company, announced today that its common shares have been approved for listing on the American Stock Exchange (AMEX). Cubic is expected to begin trading under the symbol “QBC” on the AMEX on Monday, August 4, 2008. Assuming Cubic is in compliance with all applicable listing standards on that date, Cubic will only trade on the AMEX and will no longer be quoted on the OTC Bulletin Board.

“This is an incredible milestone for Cubic and its shareholders. With the ability to list on AMEX, Cubic is able to reach both United States and Global investors,” stated Calvin Wallen III, President-CEO of Cubic Energy, Inc.

Cubic primarily operates in eastern Texas and western Louisiana in the heart of the Haynesville Shale, where it controls 6,326 net acres that abut Chesapeake Energy (CHK) and Goodrich Petroleum (GDP) land. The recent discovery of the Haynesville’s potential has fueled a frenzied land grab in the region, and led to speculation that Cubic could be on the verge of either signing a significant joint venture deal, or perhaps even getting bought outright. Shares of QBIK.OB rose nearly 20% intraday to close at $4.68 after release of the listing news at 2:27 pm. Shares have traded between $0.87 and $5.25 during the past year.

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